Date: 20 Feb 2013

This event has already taken place. You can download the podcast of the seminar (80 MB) or watch the video.

The current Great Recession is a painful reminder of the "price of inequality", casting doubt on the conventional wisdom that growth should be in the driver’s seat and distribution in the backseat. A corollary of this deep-rooted belief is the view that wage moderation can boost economic growth and hence reduce poverty.

Dr. Sangheon Lee challenges this view by examining recent changes in wages (or more broadly, labour income) and their social and economic impacts, with a focus on two types of distribution: personal and functional distribution. He argues that in both cases inequality has been growing and that, more importantly, these increases in inequality have had negative impacts on economic growth and stability.
Having shown that the changes in inequality can to a large extent be attributed to policy factors, Lee argues that policy shifts towards more equitable income distribution must be an essential part of post-crisis socioeconomic strategies and should inform debates about a post-2015 development agenda.